Myanmar kyat facts for kids

Quick facts for kids Myanmar kyat
ကျပ်ငွေ (formal) ကျပ် (informal)
Ks. 1,000/- (2004) Ks. 1,000/- (2020)
ISO 4217 Code	MMK
User(s)	Myanmar
Inflation	23%
Source	The World Factbook, 2023 est.
Subunit
1⁄100	pya
Symbol	K
Coins
Rarely used	K 1/-, Ks. 5/-, Ks. 10/-, Ks. 50/-, Ks. 100/-.
Banknotes
Freq. used	Ks. 50/-, Ks. 100/-, Ks. 200/-, Ks. 500/-, Ks. 1,000/-, Ks. 5,000/-, Ks. 10,000/-
Rarely used	Ks. -/50, K 1/-, Ks. 5/-, Ks. 10/-, Ks. 20/-, Ks.  20,000/-

The kyat (pronounced "chat" or "kyat") is the money used in Myanmar, also known as Burma. You'll often see it written as "K" for one kyat or "Ks." for many kyats. This symbol usually goes before the number, like K 100/-. If an amount is less than one kyat, it's shown with "pyas," like -/50 for half a kyat.

The word kyat comes from an old Burmese measurement called kyattha. This was a unit of weight equal to about 16.3 grams of silver.

Understanding Kyat Exchange Rates

From 2001 to 2012, the official value of the kyat was around Ks. 5/75 to Ks. 6/70 for one US dollar. However, there was also a "street rate" or "black market rate." This unofficial rate was much higher, showing the true value of the kyat. It ranged from Ks. 750/- to Ks. 1,335/- for one US dollar.

When many tourists visited Myanmar (from December to January), the black market rate for the kyat would often go down. In 2003, during a banking problem in Myanmar, people started trusting banks less. They wanted to hold actual kyat banknotes instead of keeping money in banks. This made the kyat's black market value go up, reaching as high as Ks. 850/- per US dollar.

On April 2, 2012, the Central Bank of Myanmar decided to let the kyat's value change more freely. They set its starting value at Ks. 818/- per US dollar.

In March 2013, the government stopped using special Foreign Exchange Certificates (FECs). These were certificates tourists had to buy with foreign money. This change made it easier for visitors to exchange their money.

After a big change in government in 2021, money started leaving Myanmar quickly. This, along with rising prices (inflation), caused the kyat's value to drop a lot. By August 2022, one US dollar was worth about 3500 kyats in the unofficial market. By May 2024, it had risen to 5000/- per US dollar.

History of the Kyat

First Kyat: 1852–1889

1 kyat silver coin of King Mindon Min, 1853

The kyat was used as both silver and gold coins in Burma until 1889. It was divided into smaller units: 16 pe made one kyat, and each pe had 4 pya. There were also mu (2 pe) and mat (4 pe) units. Sixteen silver kyats were worth one gold kyat. This first kyat was similar in value to the Indian rupee. The rupee took over as the currency after the British took control of Burma.

Second Kyat: 1943–1945

When Japan took over Burma in 1942, they first used a currency based on the rupee. Later, they introduced banknotes in kyat amounts. This kyat was divided into 100 cents. This money became worthless when World War II ended and the Burmese rupee was brought back in 1945.

Third Kyat: 1952–Present

The kyat we know today was started on July 1, 1952. It replaced the Burmese rupee at the same value. At this time, the money system also became decimal. This meant one kyat was divided into 100 pyas.

Kyat Coins

First Kyat Coins

During the Konbaung dynasty, King Mindon Min set up a Royal Mint in Mandalay. Silver coins were made in values like 1 pe, 1 mu, 1 mat, 5 mu, and 1 kyat. Gold coins were also made. These coins had a Royal Peacock Seal on one side, which is why they were sometimes called "peacock coins." The other side showed the value and the date. Later, lead, copper, brass, tin, and iron coins were also made for smaller values.

Second Kyat Coins

No coins were made for this version of the currency.

Third Kyat Coins

In 1952, coins were introduced in values of 1, 5, 10, 25, and 50 pyas, and K 1/-. These new coins had a Chinthe (a mythical lion-like creature) on one side. The other side showed the coin's value in Burmese script and numbers, surrounded by Burmese flower designs.

1956-1966 Issued Coins
Image		Value	Technical Details			Design			Year Made
Front	Back		Diameter	Weight	Material	Edge	Front	Back
		1 pya	18 mm	2.2 g	Bronze	Plain	Chinthe	Value, year, Myanmar flower designs	1956
		5 pyas	19.5 mm	3.17 g	Copper-nickel	Plain	Chinthe	Value, year, Myanmar flower designs	1956
		10 pyas	19.5 mm	4.46 g	Copper-nickel	Plain		Value, year, Myanmar flower designs	1956
		25 pyas	24.1 mm	6.78 g	Copper-nickel	Plain		Value, year, Myanmar flower designs	1956
		50 pyas	26 mm	7.8 g	Copper-nickel	Security edge		Value, year, Myanmar flower designs	1956
		1 kyat	30.5 mm	11.65 g	Copper-nickel	Security edge		Value, year, Myanmar flower designs	1956
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

In 1966, all coins were changed. They now showed Aung San on the front and were made of aluminum. These coins were used until 1983.

In 1983, new coins were made in values of 5, 10, 25, and 50 pyas, and 1 kyat. The 25 pyas coin was first round, but then changed to a hexagon shape. This was to avoid confusion with the 10 and 50 pyas coins. These were the last coins officially made under the name "Burma."

The 1 pya coins were last made in 1966. The 5 and 25 pyas coins were last made in 1987. The 10 and 50 pyas coins were last made in 1991.

In 1999, new coins were released by the "Central Bank of Myanmar." These included K 1/-, Ks. 5/-, Ks. 10/-, Ks. 50/-, and Ks. 100/- coins. They were the first coins in Burma to have English letters. These coins were meant to be used for small payments instead of old, worn-out banknotes. However, because prices kept going up, these coins are not used much anymore.

In late 2008, the government announced new Ks. 50/- and Ks. 100/- coins. The Ks. 50/- coin would show a Burmese lion on the front and the Lotus Fountain from Naypyidaw on the back. The Ks. 100/- coin would also have the Burmese lion on the front.

Kyat Banknotes

First Kyat Banknotes

No banknotes were made for this currency.

Second Kyat Banknotes

The Burma State Bank printed notes for K 1/-, Ks. 5/-, Ks. 10/-, and Ks. 100/- in 1944. Another Ks. 100/- note was issued in 1945.

1944–45 Series
Image		Value	Size	Main Color	Design			Year Made	Notes
Front	Back				Front	Back	Watermark
		K 1/-	109 × 63 mm	Blue	Peacock and "1 kyat" in Burmese with rising sun	Mandalay Royal Palace	"Bamar" in Burmese	1944
		Ks. 5/-	130 × 72 mm	Red	Peacock and "5 kyats" in Burmese with rising sun
		Ks. 10/-	146 × 84 mm	Green	Peacock and "10 kyats" in Burmese with rising sun
		Ks. 100/-	160 × 90 mm	Bright Orange	Peacock and "100 kyats" in Burmese with rising sun
		Ks. 100/-	155 × 95 mm	Dark blue	Peacock and "100 kyats" with Ba Maw	Mandalay Royal Palace	Ba Maw's image	1945
For table standards, see the banknote specification table.

Third Kyat Banknotes

A 5 kyat note featuring Aung San

In 1952, the Union Bank of Burma started printing the new kyat notes. They also changed the money system to decimal, meaning 1 kyat was now 100 pyas.

On February 12, 1958, the Union Bank of Burma released the first kyat notes. These were K 1/-, Ks. 5/-, Ks. 10/-, and Ks. 100/-. Later, Ks. 20/- and Ks. 50/- notes were added. Some of these notes (Ks. 50/- and Ks. 100/-) were later made invalid on May 15, 1964. This was done to try and control illegal money dealings.

Since the Third Kyat was introduced, the banknotes do not show the date they were made or the signature of the bank that issued them.

1965–1971 Banknotes

The People's Bank of Burma took over making notes in 1965. They issued K 1/-, Ks. 5/-, Ks. 10/-, and Ks. 20/- notes.

1965 Series
Image		Value	Size	Main Color	Design			Year Made
Front	Back				Front	Back	Watermark
		K 1/-	115 × 66 mm	Purple and grey	General Aung San	Inle Lake fisherman	Series of semi-circles	April 30, 1965
		Ks. 5/-	150 × 70 mm	Green		Farmer and cow	Pattern throughout paper	1965
		Ks. 10/-	159 × 81 mm	Red		Woman picking cotton
		Ks. 20/-	169 × 90 mm	Brown		Cultivating tractor

1972–1988 Banknotes

In 1972, the Union of Burma Bank started issuing notes. These notes, from 1972 to 1979, included K 1/-, Ks. 5/-, Ks. 10/-, Ks. 25/-, Ks. 50/-, and Ks. 100/-.

On November 3, 1985, the Ks. 50/- and Ks. 100/- notes were suddenly made invalid. People were allowed to exchange only a small amount of these old notes for new ones. Other notes still worked. On November 10, 1985, Ks. 75/- notes were introduced. This unusual value was possibly chosen because a leader at the time, General Ne Win, liked the number 75. Then, Ks. 15/- and Ks. 35/- notes were introduced in August 1986.

Just two years later, on September 5, 1987, the government again made the Ks. 25/-, Ks. 35/-, and Ks. 75/- notes invalid without warning. This made about 75% of the country's money worthless and caused many people to lose their savings. On September 22, 1987, new Ks. 45/- and Ks. 90/- banknotes were introduced. Both of these numbers included Ne Win's favorite number, nine. These changes caused big economic problems.

1972-1987 Series
Image		Value	Size	Main Color	Design		Dates
Front	Back				Front	Back	Issued	Stopped
		K 1/-	124 × 60 mm	Green	General Aung San	Weaving Loom	October 31, 1972	Worn out
		Ks. 5/-	136 × 70 mm	Blue		Palm Tree	October 31, 1973	Worn out
		Ks. 10/-	146 × 80 mm	Reddish Brown		Ceremonial Offering Bowl	June 30, 1973	Worn out
		Ks. 15/-	149 × 71 mm	Light green		Zawgyi wood carving	August 1, 1986	Worn out
		Ks. 25/-	155 × 90 mm	Orange		Pyinsarupa	November 3, 1985	September 5, 1987
		Ks. 35/-	155 × 74 mm	Violet		Standing Nat Thar	August 1, 1986	September 5, 1987
		Ks. 45/-	158 × 77,5 mm	Blue-green	Thakin Po Hla Gyi	Oil field workers	September 22, 1987	Worn out
		Ks. 50/-	166 × 100 mm	Yellow-Brown	General Aung San	Law Ka Nat	July 1979	November 3, 1985
		Ks. 75/-	161 × 77 mm	Brown			November 10, 1985	September 5, 1987
		Ks. 90/-	167 × 80 mm	Light green	Saya San	Farmers and bullock cart	September 22, 1987	Worn out
		Ks. 100/-	176 × 110 mm	Light green	General Aung San	Saung gauk	August 1, 1976	November 3, 1985
For table standards, see the banknote specification table.

Banknotes of K -/50, K 1/-, and Ks. 5/- are not common. Most daily payments are rounded up to the nearest Ks.10/-.

1989–Present Banknotes

After the country's name changed to Myanmar in 1989, new banknotes were issued with more useful values. Old notes were not made invalid, but they slowly stopped being used because of rising prices (inflation) and wear and tear. On March 1, 1990, K 1/- notes were issued, followed by Ks.200/- notes. In 1994, notes for K -/50 (50 pyas), Ks. 20/-, Ks. 50/-, Ks. 100/-, and Ks. 500/- were released. New Ks. 5/- and Ks. 10/- notes came out in 1995. Ks. 1,000/- notes were introduced in 1998.

In 2003, there were rumors that the government would make some money invalid again. This was during a time when people didn't trust banks much. The government said this wasn't true, and the rumors didn't come true.

In 2004, the Ks. 200/-, Ks. 500/-, and Ks. 1,000/- notes were made smaller so all Burmese banknotes would be the same size. The older, larger notes could still be used. Today, K -/50, K 1/-, Ks. 5/-, Ks. 10/-, and Ks. 20/- banknotes are rarely seen because their value is so low.

New Higher Value Banknotes

On October 1, 2009, Ks. 5,000/- banknotes were issued. They showed a white elephant and the Pyidaungsu Hluttaw (parliament building). This was five times larger than the biggest note before. Some people liked having a higher value note because it meant carrying fewer banknotes. Others worried it would make prices go up even more. The black market exchange rates did increase after this announcement.

On June 9, 2012, the Central Bank announced that Ks. 10,000/- notes would be released. This was to help with large payments in a country where most people use cash. They were issued on June 15, 2012.

Obverse of the 2014 Ks. 5,000/- note

On October 1, 2014, the Central Bank released new Ks. 5,000/- banknotes with better security features to stop fake money. These notes had a special coating, improved printing, watermarks, and a security thread. They looked the same as the 2009 notes, which are still used. This was done after some fake Ks. 5,000/- and Ks. 10,000/- notes were found.

In 2019, the Central Bank of Myanmar started a new series of banknotes. These notes feature a picture of Myanmar's national hero, Aung San. People had been asking for this change for a long time. The first note in this new series was the Ks. 1,000/- banknote, released on January 4, 2020. The Ks. 500/- banknote followed on July 19, 2020.

In July 2023, a new Ks. 20,000/- banknote was announced. This happened during a time of economic problems in Myanmar. The reason for this new note was not fully explained, but it was likely to celebrate the birth of a white elephant and the building of a large Buddha statue in Naypyidaw. This banknote was only available at a few central bank branches.

Current Series
Image		Value	Size	Main Color	Design			Year Made	Notes
Front	Back				Front	Back	Watermark
		K -/50	110 × 55 mm	Front: Purple and orange Back: Multicolor	Saung gauk (a Burmese harp)	Pattern	"BCM"	March 27, 1994
		K 1/-		Orange	Bogyoke Aung San	Pattern	Bogyoke Aung San	March 1, 1990
		K 1/-		Blue-purple	Chinthe	Boat-rowing at Kandawgyi Lake, Yangon	"BCM"	October 31, 1996
		Ks. 5/-	130 × 60 mm	Brown and blue		Chinlone cane ball game	Chinthe	May 1, 1995
							Chinthe bust over value	1997
		Ks. 10/-		Purple		A karaweik (royal boat)	Chinthe	May 1, 1995
							Chinthe bust over value	1997
		Ks. 20/-	145 × 70 mm	Green		People's Park and Elephant Fountain, Yangon	Chinthe bust over value	March 27, 1994
		Ks. 50/-		Orange-brown		Lacquerware artisan	Chinthe	March 27, 1994
							Chinthe bust over value	1997
		Ks. 100/-		Blue, green, and pink		Temple renovation	Chinthe	March 27, 1994
							Chinthe bust over value
		Ks. 200/-	165 × 80 mm	Dark green		Elephant teak-logger	Chinthe	March 27, 1990; 1998	Value below watermark
							Chinthe bust over value
			150 × 70 mm				Chinthe bust over value	December 11, 2004	Value above watermark
		Ks. 500/-	165 × 80 mm	Purple and brown		A General Mahabandoola statue being painted	Chinthe	March 27, 1994	Value above watermark
							Chinthe bust over value
			150 × 70 mm				Chinthe bust over value	October 10, 2004	Value below watermark
		Ks. 500/-	150 × 70 mm	Red and pink		Aung San	Headquarters of the Central Bank of Myanmar in Naypyidaw	July 19, 2020	Value below watermark
		Ks. 1,000/-	165 × 80 mm	Green and purple		Ministry of Finance and Revenue	Chinthe	November 1998	Value above watermark
							Chinthe bust over value
			150 × 70 mm				Chinthe bust over value	October 11, 2004	Value below watermark
		Ks. 1,000/-	150 × 70 mm	Blue	Aung San	Pyidaungsu Hluttaw buildings in Naypyidaw	Aung San bust over value	January 4, 2020	Value above watermark
		Ks. 5,000/-	150 × 70 mm	Orange and pink	White elephant	Pyidaungsu Hluttaw buildings in Naypyidaw	Elephant profile over value	October 1, 2009	Value above watermark
		Ks. 10,000/-	150 × 70 mm	Blue, red, purple, green, brown and yellow	Modified State Seal of Myanmar (Lotus and elephants)	Mandalay Royal Palace Moat	Lotus Flower profile over value	June 15, 2012	Value above watermark
		Ks. 20,000/-	150 × 70 mm	Green and yellow	White elephant	Bridges over the Irrawaddy river at Mandalay	Elephant profile over value	July 31, 2023	Value above watermark

Foreign Exchange Certificates (FECs)

In 1993, Myanmar started issuing special foreign exchange certificates (FECs). These were like US dollar notes but were only used in Myanmar. They had the same value as US dollars but were separate from the regular kyat. It was against the law to change foreign money directly into kyats at the official rate, which was set very high. For a long time, there were two values for the kyat: the official rate (around Ks. 6/- for US$1) and the black market rate (which was much higher). Foreign visitors had to use FECs or exchange money at the official high rates.

On April 1, 2012, the government of Myanmar started allowing the kyat's value to change more freely. They also made it legal to use and exchange foreign money in Myanmar. This was done to better match global exchange rates, attract more business, and reduce the black market. On March 20, 2013, the government announced that FECs would slowly be taken out of use.

Redesigning the Banknotes

After the pictures of General Aung San were removed from Burmese kyat banknotes in 1987, many people wanted them back. They also thought it was strange to have animals on the banknotes. People felt that important national leaders and heroes should be on the money, like in other countries such as Thailand.

The Central Bank of Myanmar said that printing new notes with General Aung San's picture would be very expensive. However, some argued that new notes would only be printed to replace old, damaged ones or when new values or sizes of banknotes were introduced.

This topic was debated in the Pyithu Hluttaw (one of Myanmar's parliament houses) on November 17, 2017. The military members voted against the idea, but it passed with more votes for it (286 votes for, 109 against).

2020 Redesign

2020 redesign of the Myanmar Ks. 1,000/- note

On December 21, 2019, the Central Bank of Myanmar announced that Ks. 1,000/- notes with General Aung San's picture would be released. This was to celebrate Myanmar's 72nd Independence Day. These banknotes were given to the public on January 4, 2020. This marked the return of the national hero's image to the country's money after 30 years.

On June 18, 2020, the Central Bank announced that Ks. 500/- notes with General Aung San's picture would also be released. These came out on July 19, 2020, for the 73rd anniversary of Martyr's Day.

Both the Ks. 500/- and Ks. 1,000/- banknotes with Aung San's picture are used at the same time as the older notes that show the chinthe. All of them are still legal money.

See also

In Spanish: Kyat birmano para niños